China’s lottery boom sparks social fears

Published on Author Joshua Benjamin

Millions of Chinese citizens are becoming addicted to state-run lottery systems, which have grown in popularity immensely over the past 30 years. The state-run lottery was created in the 1980’s by Mao’s administration in contradiction to the country’s ban on gambling in order to create a welfare system.

Appreciating RMB

Published on Author Mike

William Granruth highlighted the issue with a post on the exchange rate from the WSJ. As followup read the following substantive analysis “The appreciating renminbi” from the VoxEU blog. What is the “real” value of the RMB (= how measure)? Is it (too) weak (= [excessive] trade surplus)? Not surprisingly, the WSJ looks only at… Continue reading Appreciating RMB

Reeves Center lecture

Published on Author Mike

  Ron Fuchs of the Reeves Center hosted us in the Watson Pavilion to hear of the China export trade. He privaleged us with the opportunity to handle a piece from the dinner service of Pres George Washington and Gen Robert E Lee on Founders Day. Note the many economic themes: the Chinese government exercise… Continue reading Reeves Center lecture

Financial Times China Coverage

Published on Author Mike

Here is a sample of the news coverage in the Financial Times, the world’s leading English-language newspaper, in that it has more extensive coverage of the world as a whole than any US publication.   See “Links” in the right-hand column – you can sign up for a daily email on their China coverage. China Business,… Continue reading Financial Times China Coverage

World GDP Shares

Published on Author Mike

Here’s a post on the Worthwhile Canadian Initiative economics blog with basic data on the rise of China as a share of global GDP. Note that this is done in PPP (purchasing power parity) terms, which is good at comparing consumption but not necessarily “clout” in global markets, where market exchange rates matter. More come… Continue reading World GDP Shares